HYDROGRID has secured $8.5 million in Series-A funding led by Inven Capital and Karma Ventures to enhance its digital solutions for hydropower operations and support its international expansion.

Target Information

HYDROGRID, founded in 2016 and based in Vienna, has established itself as a leader in digitalizing hydropower operations. The company was recognized with the national digitalization award in 2019 for its innovative technology, which supports hydro operators in seven countries to streamline their processes. HYDROGRID’s Insight production planning solution uses advanced machine learning algorithms for forecasting inflows and power prices while optimizing operations for various types of hydro-assets, including run-of-river, pondage, and storage facilities.

With significant growth recorded over recent years, HYDROGRID aims to save over 50 million tonnes of CO2 emissions by 2033. Their mission is to modernize hydropower management, enabling operators to maximize revenue while complying with environmental regulations.

Industry Overview

Hydropower is the largest and most established source of renewable energy globally, accounting for approximately 60% of all renewable energy generation. Its capacity to provide reliable baseload energy year-round positions h